How Many People Work At Binance 2025: Size, Structure, and Roles

Binance, the world’s largest cryptocurrency exchange by trading volume, has undergone a significant organizational transformation in recent years. As regulatory scrutiny intensifies and markets evolve, Binance has strategically shifted from hyper-growth to structured scaling. Two major factors driving its operational blueprint today are compliance staffing and decentralized work environments.

This article dives into the current workforce landscape at Binance, exploring data-backed trends, organizational structures, and regional employment breakdowns. Read on to discover the full scope of who works at Binance.

How Many People Work At Binance?

• Binance employs over 5,300 people worldwide as of Q1 2025.
• The company’s compliance department grew by 34% year-over-year, with over 645 full-time staff.
• Binance has employees from over 110 countries, supporting operations in 100+ locations.
• Approximately 20% of Binance’s workforce is based in the UAE.
• Binance’s remote-first model allows employees to work from nearly any region worldwide.
• In 2023, Binance executed 1,000 to 3,000 layoffs, later offset by rehiring in compliance roles.
• Binance awarded a bonus of approximately 10.8 million RMB (~$1.6 million) to its highest-earning employee in early 2025.

Recent Developments

• Binance’s CEO as of 2025 is Richard Teng, who replaced founder CZ after a $4.3 billion regulatory settlement.
• The company implemented major compliance overhauls following U.S. Department of Justice actions in late 2023.
• Binance is now focusing on regional leadership models instead of a central HQ, aligning with global regulatory demands.
• Leadership is investing heavily in staff training, particularly in anti-money laundering (AML) and sanctions compliance.
• Public updates show Binance moving toward a risk-mitigated growth model, emphasizing quality hires over quantity.
• Binance has been scaling down or decentralizing certain departments while boosting staff in high-priority units like Risk and Compliance.
• Employee benefits, including discretionary bonuses, were restructured in 2024 to align with performance metrics.
• The company announced new hubs in Dubai, Paris, and Singapore, part of a legal entity-based operations structure.
• Binance updated its internal reporting tools to accommodate cross-border and remote auditing needs.
• New hires from global institutions (e.g., Morgan Stanley, PayPal) have entered senior leadership and compliance positions.

Binance’s Current Team (Key People)

• Richard Teng serves as Binance’s CEO as of 2025, following the departure of founder Changpeng Zhao. Teng brings decades of regulatory experience, including senior roles at the Monetary Authority of Singapore and Abu Dhabi Global Market.
• Changpeng Zhao (CZ), while no longer involved in day-to-day operations, remains the company’s majority shareholder and founder, retaining approximately 90% ownership.
• Noah Perlman, formerly the Chief Compliance Officer at Gemini, now leads Binance’s global compliance strategy. He plays a central role in liaising with regulators and shaping internal policy.
• Steven Christie is the Global Head of Compliance and has previously worked with law enforcement, helping to bolster Binance’s AML and risk protocols.
• Mayur Kamat, Binance’s former Head of Product, was instrumental in scaling user experience and design architecture but departed in late 2023, part of broader leadership changes.
• Yi He, one of Binance’s co-founders, remains actively involved and oversees several strategic business initiatives, including Binance Labs and key talent acquisition efforts.
• Leon Foong, formerly head of Binance Asia-Pacific, now leads Binance’s expansion in regulated markets, helping align business growth with local compliance frameworks.
• Kristin Hecht, appointed as the Deputy Chief Compliance Officer and Global Money Laundering Reporting Officer, plays a vital role in navigating global AML requirements.

Binance Milestone Highlights

• $125 trillion traded across spot and futures since 2017.
• 45 million+ users sent and spent crypto using Binance Pay.
• 280 million people across 100+ countries trust Binance.
• 7.5 million users protected, with nearly $10 billion in fraud losses prevented.
• $50 billion earned and saved by users through Binance Earn.
• 23 million+ users and 3 million+ creators connect daily on Binance Square.
• 64 million+ people have learned through Binance Academy.
• 26 million+ followers are engaged across Binance’s social media platforms.

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Recent Employee Growth Trends

• Binance now reports 5,300+ employees globally, indicating a partial rebound from its mid-2023 downsizing.
• In 2022, Binance was estimated to employ approximately 7,000 to 7,500 people, making 2025 levels slightly below peak.
• The company added over 1,000 roles in compliance and legal functions between late 2023 and early 2025.
• Binance’s hiring in the UAE grew significantly, with 1,000+ employees now based there, driven by favorable regulation.
• Compared to peers, Binance has maintained positive net hiring since late 2024, while others like Coinbase cut staff.
• The most significant new hires occurred in risk management, legal affairs, financial crime, and market surveillance.
• Binance has retained its position as one of the top crypto employers despite challenges from regulatory actions.
• The firm continues to hire regionally, especially in jurisdictions with established licensing frameworks like France, the UAE, and Japan.
• Binance reportedly receives thousands of job applications weekly, particularly for remote technical and legal roles.
• The company is also actively recruiting specialists with backgrounds in law enforcement and cybercrime investigation.

Historical Workforce Trends

• Binance began as a startup in 2017 and scaled to 7,000+ employees by 2022, making it one of the fastest-growing crypto employers.
• The 2021–2022 bull market saw hypergrowth hiring, especially in tech and customer support roles.
• Regulatory uncertainty in 2023 led to significant layoffs, with internal restructuring across legal and support departments.
• Binance’s downsizing phase included eliminating some redundant international teams and consolidating functions.
• At its peak, Binance employed more people than Coinbase, Kraken, and Gemini combined.
• The company has evolved from a tech-centered hiring model to a more balanced structure with legal, risk, and finance experts.
• 2018–2020 focused heavily on engineering talent, while 2023–2025 emphasizes compliance and regional leadership.
• Binance’s transition to a remote-first workforce in 2020 set the stage for its decentralized hiring strategy.
• Early hiring relied heavily on Asia-based roles; current staffing is much more globally distributed.
• The company adjusted its total headcount strategy from expansion-centric to risk-balanced operations post-2023.

Binance Share of Trading Volume by Fee Type

• Nearly 100% of trades on Binance included standard fees from 2018 to mid-2021.
• No Maker Fee trades began to appear in late 2020, growing to 15–20% of volume by early 2022.
• No Fee trading surged in mid-2022, peaking at over 60% of total volume by early 2023.
• From 2023 onward, No Fee trades declined but stayed consistent, making up 20–40% of volume through 2024 and 2025.
• Fee-based trades rebounded in late 2023, now stabilizing at 50–60% share as of Q3 2025.
• No Maker Fee volumes remain active, holding a 10–20% share of Binance’s volume in recent quarters.

Changes in Workforce Size (Layoffs & Expansion)

• In mid-2023, Binance laid off between 1,000 and 3,000 employees, equal to about 20–30% of its workforce.
• The layoffs impacted non-core teams, especially in marketing, education, and non-regional customer support.
• Binance cited regulatory pressure and operational streamlining as key reasons for workforce reduction.
• Binance reportedly allocated over $200 million to expand its compliance functions, including technology upgrades, staffing, and audit mechanisms.
• Public job postings fell by 65% year-over-year in mid-2023, then rebounded slightly in late 2024.
• Binance launched internal restructuring to reduce role overlap and increase operational efficiency.
• Performance-related layoffs were paired with bonus reductions in some departments.
• Rehiring resumed by Q4 2024 in departments like Risk, Legal, and Sanctions Compliance.
• Layoffs led to a wave of alumni hires at smaller DeFi and fintech startups, diversifying the crypto workforce ecosystem.

Workforce Breakdown by Department

• Binance reports a compliance team of 645 full-time staff by the end of 2024, a 34% increase from November 2023.
• Including contractors, Binance’s compliance-focused workforce exceeds 1,000 people.
• Binance has a Risk team with 137 of 138 targeted positions filled by late 2024.
• The company has publicly stated that its workforce exceeded 5,300 employees in early 2025.

Trading Cost vs Market Share: Binance vs Competitors

• Binance dominates with 23% spot market share and the lowest trading cost of just 0.10%.
• Bybit holds 7% market share with a relatively low cost of 0.50%.
• Coinbase has 6% market share but charges one of the highest fees at 2.10%.
• Bitget captures 5.5% market share with a moderate trading cost of 0.90%.
• OKX and HTX maintain 5% and 4.5% market shares, with fees of 1.20% and 1.30%, respectively.
• Deribit and Upbit each hold 3.5% and 3%, aligned with the industry average trading cost of 0.80%.
• Bithumb and Crypto.com stay under 3% market share, but trading costs rise to 1.00%–1.40%.
• Kraken remains cost-efficient at 0.60%, despite a smaller 1.8% market share.
• Robinhood offers the lowest cost at 0.00%, but only holds 1.5% of the market.
• Bitpanda and Bitstamp trail with 1.2% and 1% share, but their fees spike to 1.60% and 2.00%, respectively.

Compliance & Regulatory Staff Numbers

• Binance plans to reach 645 full‑time compliance staff by the end of 2024, a 34% rise over the previous November.
• Including contractors, the compliance headcount already stands at over 1,000.
• The Risk team (closely tied to compliance) has filled 137 of 138 targeted positions by late 2024.
• Binance’s compliance department hiring includes specialists with law enforcement and financial crime backgrounds, such as Céline Inial and Caner Akyürek.
• The company is boosting compliance spending, notably up 36% from 2023, to support staffing efforts.
• The expanded team supports transaction monitoring, market surveillance, sanctions, and investigations.
• Binance cites serving over 240 million users globally, and its compliance scale reflects that footprint.

Remote Work and Flexibility

• Binance operates as a remote-first company, with more than 5,000 employees working from almost 100 countries.
• Remote-first structure is claimed to be core from its founding, tailored to a 24/7 global market.
• Hybrid work is offered in jurisdictions where Binance maintains a physical presence (e.g., Dubai, Paris).
• Remote working allows Binance to reduce office costs, increase productivity (citing a Stanford study for ~13% productivity gain), and serve users globally.
• The approach suits industries with round-the-clock demand, such as cryptocurrency exchanges.
• Binance also invests in tools, culture, and communication systems to support asynchronous, distributed work.
• Time zone coordination remains a challenge, addressed through team-building initiatives and virtual or in-person meetups where feasible.

Compliance and Workforce

• Binance’s staff remains broader in compliance roles, e.g., ~645 full-time compliance staff plus contractors.
• Binance.US maintained a team of 450 employees in 2025, reflecting a much leaner structure.

• Binance’s global 5,000+ staff spans multiple continents, beyond the more region‑focused models of Coinbase or Kraken.
• Binance.US also suffered ~100 layoffs, roughly one‑third of its workforce, due to regulatory pressures.
• Layoffs in 2023 impacted many exchanges. Binance reportedly cut 1,000 to 3,000 roles globally, according to media.
• Binance’s compliance-heavy structure sets it apart, highlighting its scale-of-operations approach to regulatory demands.

Employee Benefits & Perks

• Binance runs bonus programs, some reaching high amounts, e.g., in early 2025, certain employees got annual bonuses exceeding 1.1 million RMB, while 3,500 employees earned over 120,000 RMB bonuses.
• The highest individual bonus cited was 10.8 million RMB (~$1.6 million), showcasing a substantial performance incentive culture.
• Remote flexibility itself is part of the benefits, and the work-from-anywhere setup supports work–life balance.
• Binance reportedly provides tools and budgets to empower teams in remote-first settings, supporting autonomy and collaboration.
• Physical hubs in places like Dubai and Paris offer hybrid work options and local collaboration spaces.

Binance Global Offices & Locations

• Binance operates with no formal company headquarters, though its founding base was Malta, with offices now in Singapore, Japan, and other regions.
• As of early 2025, it lists 100+ locations worldwide with staff distributed globally.
• It employs 5,000+ employees across over 110 nationalities, reinforcing its global footprint.
• The UAE hosts about 1,000 employees, representing roughly 20% of Binance’s workforce.
• Presence in the UAE aligns with MGX’s $2 billion institutional investment, marking the largest to date in a digital assets company.
• Binance has also registered operations in Italy, Spain, Sweden, and other European countries as part of regulatory expansion.
• In addition, it retains operational flexibility across Africa and Asia, adapting to shifting regulatory landscapes.

Binance Organizational Structure

• Binance maintains a flat, decentralized structure, shaped by its remote-first operational model.
• Founder Changpeng “CZ” Zhao still holds 90% ownership, granting him voting control despite being barred from daily management.
• Richard Teng, a seasoned regulator, has served as CEO since late 2023, anchoring the company’s global compliance push.
• The company’s leadership structure spans regional markets like Asia, Europe, and MENA, with Teng previously serving as head of these zones.
• Communications and strategic messaging have been guided by senior execs like Patrick Hillmann, former CCO and CSO.
• A web of local legal entities and affiliates enables adaptability across jurisdictions, rather than a monolithic headquarters.
• The structure aims for fast decision-making and localized compliance, complemented by global oversight from central leadership.

Impacts of Regulatory Events on Staffing

• In 2023, Binance laid off 1,000 to 3,000 employees, tied to SEC lawsuits, DOJ scrutiny, and profit contractions.
• Rightsizing included cuts to benefits such as mobile reimbursements and work-from-home budgets.
• The U.S. settlement and $4.3 billion fine triggered leadership changes and compliance restructuring.
• Binance boosted its compliance headcount by 34%, aiming for 645 full-time staff by the end of 2024, plus contractors.
• Regulatory focus has driven growth in risk, investigations, and AML teams, reshaping staffing priorities.
• Fines and scrutiny accelerated decentralization, pushing hiring into jurisdictions like the UAE, where regulation is clear.
• Regulatory events created oscillating staffing patterns, layoffs followed by compliance hiring, reflecting reactive strategy shifts.

Frequently Asked Questions (FAQs)

Conclusion

Binance’s workforce reflects a pivot from sheer scale to strategic fortification. It has consolidated global operations with 5,000+ employees, distributed across 100+ locations and 110+ nationalities. Leadership under Richard Teng is steering compliance-led growth, even as founder CZ retains ownership. Regulatory pressure has both trimmed and expanded the team, trimming general roles through layoffs and expanding compliance teams by over 34%. Binance’s structure now emphasizes adaptable, decentralized operations, differentiated by deep compliance staffing and a remote-first culture. As industry demands evolve, Binance’s workforce remains agile, compliance-focused, and globally dispersed to meet shifting legal and business landscapes.